Sonoco Products Company, a global leader in high-value sustainable packaging, today announced the close of its acquisition of Eviosys, Europe’s leading food cans, ends and closures manufacturer, from KPS Capital Partners LP.
“The transaction advances Sonoco’s portfolio transformation strategy to simplify and realign its portfolio and position the Company for long-term growth and value creation,” Sonoco said in a statement Wednesday.
Following the integration process, Eviosys will transition to the Sonoco brand over the coming months and will operate under Sonoco’s Consumer Packaging segment.
Sonoco announced its intent to acquire Eviosys on June 24, 2024. You can find Packaging Strategies’ original reporting on Sonoco’s plans to acquire Eviosys here.
Packaging Strategies recently reported on Capstone Partners’ November 2024 Packaging Industry Update, which noted that portfolio optimization is a driving factor behind M&A in the packaging sector. Sonoco’s acquisition of Eviosys is a textbook example. Packaging Strategies’ reporting on the Capstone Partners analysis can be found here.
Sonoco ranks among Packaging Strategies‘ Top 25 Flexible Packaging Converters. You can check out the list here.
